Cultural Tourism Market Size, Share, Growth, and Industry Analysis, By Type (Very Motivated, Partially Motivated, Accessory, Accidental & Not Motivated), By Application (Below 20 Years, 20-30 Years, 30-40 Years, 40-50 Years & Above 50 Years) and Regional Forecast to 2032

Updated On: 09 September 2024

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CULTURAL TOURISM MARKET REPORT OVERVIEW

The global Cultural Tourism Market Size was USD 4.57 billion in 2023 and the market is projected to touch USD 17.8 billion by 2032, exhibiting a CAGR of 14.4% during the forecast period.

The cultural tourism market is a saturated segment characterized by people’s interest in the history, art, and customs of other nations. Cultural tourism includes visits to cultural heritage sites, including monuments, local festivals, and involvement in the arts and crafts produced by indigenous people. This market has received a boost with the increasing preference of travellers to get a richer and more local experience. That way, cultural tourism is not just informative for the visitor but also helpful in the development of the local economy and cultural conservation.

COVID-19 Impact: Market Growth Restrained During Pandemic Due To Travel Restrictions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The sudden outbreak of the COVID-19 pandemic significantly affected the cultural tourism market, and they suffered a great loss basically because of travel bans and restrictions. Sites of historical and cultural importance, such as museums and cultural fairs, also shut down or went offline, which severely impacted the tourism numbers. The financial pressures affected the tourism business side with massive layoffs and the arts and historical organizations that depended on the money-lost revenue. The market learned to be a vulnerable target to the global crises during the pandemic, and thus, the food industry had to focus on the issue of adapting to the changing circumstances.

LATEST TRENDS

"Virtual and green tourism trends drive market growth"

With reference to Europe, it is graphically observed that there is an emerging culture in the cultural tourism market that comprises virtual tourism, which entails virtual tours of museums, historical sites, cultural events, and so on. This reign makes it possible for individuals to get to know the cultural hotspots of the globe without actually moving out of the comfort of their houses. Another emerging trend is green and responsible travel, during which tourists attempt to maximize the level of their interaction with the environment. Especially virtual tourism is changing the way people interact with cultural goods and spaces, making it possible to experience them remotely.

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SEGMENTATION

By Type

Based on type the market can be categorized into Very Motivated, Partially Motivated, Accessory, Accidental & Not Motivated.

Very Motivated: Highly engaging cultural tourists are those people who travel with cultural tourism as their main objective. Visitors commonly base their stays on the culture, history, and other historic attractions as well as other tourist attractions. This segment expresses high concern for gaining knowledge about the history, tradition, and culture of the visited destinations.

Partially Motivated: Device in Zacharias’ study (1994) defines partially motivated cultural tourists as those with considerable interest in culture-related activities but also may have other motives like leisure or adventure. Cultural attractions and events are not the primary objectives of their tour, though they feature in their tour plan. These cultural endowments are consistent with other attractions in the determination of their travel choices.

Accessory: Accessorized cultural tourists may have a perception that cultural ones are a by-product of traveling. Regardless of their main reasons for traveling, they may have leisure, business, or other issues, but they will engage in cultural processes if they find the opportunity. They also like cultural facilities/attractions as a plus that doesn’t influence the choice of the destination but is welcomed.

Accidental: This is the case with those who do not plan for cultural experiences but end up participating in cultural activities based on happenstance or closeness. It is also important to clarify that many of these travelers might go to visit a cultural site or attend a certain event because this is the only thing they came across or because it was recommended to them. Their culture involvement is predominantly emergent and impulsive.

Not Motivated: Not motivated tourist is coined to mean a tourist who has no interest in cultural events and does not look for them. Aimed at other purposes like leisure, business, or to visit friends and families, such people’s trips do not involve purposeful participation in the cultural tourism activities. This segment hardly ever incorporates cultural attributes into their touring plans.

By Application

Based on application the market can be categorized into Below 20 Years, 20-30 Years, 30-40 Years, 40-50 Years & Above 50 Years.

Below 20 Years: Young tourists are those who are below twenty years old and mostly involve themselves in cultural tourism through school trips and holiday makers. This age group appreciates the practical and fun ways that are used when presenting cultural teaching. Children and youths’ travel is often arranged by parents or schools, and this implies safety and organization.

20-30 Years: The target customers are young people between the ages of 20 and 30 because they are usually willing to try new places and explore multiculturalism by themselves. They are particularly not just looking for proper and typical tourist experiences like entertainment centers, restaurants, and nautical tourism but are inclined towards indigenous cultural experiences like festivals, foods, and cultural experiences of places. This segment relies on social influence such as social media and friends’ recommendations while selecting cultural sites.

30-40 Years: Those tourists that fall in the 30-40 age bracket group engage a lot in cultural tourism while at the same time may be having family and work commitments. Instead of going to pure sightseeing attractions, they like balanced travel activities that include archeology and the arts but also attractions that children and adults like. This group of people appreciates the comfort, convenience, and education of their children with reference to other cultures.

40-50 Years: People in the 40-50-year bracket are probably more financially liberal, and they are in search of meaning in life while on holiday. They are touring often historically associated places, viewing art and architecture, and preferring guides and detailed story descriptions. People of this age prefer their trips to be well structured and culturally engaging, as well as enhancing the side of relaxation.

Above 50 Years: Cultural tourism is thus popular with tourists aged fifty years and above because they can actualize lifelong desires to do so. They enjoy slow-moving tourism that involves such activities as visiting art galleries, archaeology sites, and watching culturally inclined drama plays. This group usually engages in group tours since it involves cooperative, well-planned, and leisurely traveling with people of the same interests.

DRIVING FACTORS

"High tourist interest in history exploration boosts market growth"

It is revealed that tourists are highly interested in cultural tourism, hence booming Cultural Tourism Market Growth. This desire to visit other destinations and to experience other people’s way of life, their traditions, and history creates a market for cultural tourism products.

"Digital technologies enhance market growth by attracting tech-savvy tourists"

Digital technology such as virtual reality and augmented reality are new developments that are improving cultural tourism nowadays. Such technologies help tourists to visit cultural sites in a virtual way, increase their market, and attract those tourists who prefer technology.

RESTRAINING FACTOR

"High costs and limited cultural hubs restrict market growth"

Cultural tourism is expensive, and travelers have to spend a lot of money on air fares, accommodations, and even the entrance fee to the cultural attractions. Also, the poor availability of other cultural hubs, particularly in less developed areas, limits market progression even more.

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CULTURAL TOURISM MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America's developed sites and marketing drive market growth"

North America holds the largest Cultural Tourism Market Share due to the presence of many world-class monuments and cultural traditions such as museums and festivals. The level of development in the region and ease of access to the sites can be considered as an advantage specific to tourists. Also, effective marketing and promotion of cultural tourism by both the government and private players make it even more appealing.

KEY INDUSTRY PLAYERS

"Influencers and technology integration drive market growth sustainably"

Mega influencers, HNWIs, and LCNs in the growth of the cultural tourism market are creating engaging and real-life experiences, implementing the application of technology into cultural tourism, and incorporating sustainable tourism into their planning. They engage with local communities with the promotion of distinct cultural identity and constantly work on new propositions. Such initiatives ensure that a greater population is targeted and appealed to, thus increasing general interest and viability of cultural touring.

List of Market Players Profiled

• Expedia Group (U.S.)
• Priceline Group (U.S.)
• China Travel (China)
• China CYTS Tours Holding (China)
• American Express Global Business Travel (U.S.)

INDUSTRIAL DEVELOPMENT

April, 2023: VisitBritain launched a "Hidden Gems" campaign in to promote lesser-known cultural destinations in the UK, encouraging travellers to explore the country's rich heritage beyond popular tourist spots. This initiative reflects a growing interest in off-the-beaten-path experiences and sustainable tourism.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Cultural Tourism Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.